Hoey Investments Inc. Buys 5,952 Shares of General Electric (NYSE:GE)

Hoey Investments Inc. lifted its position in General Electric (NYSE:GE) by 18.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 37,563 shares of the conglomerate’s stock after acquiring an additional 5,952 shares during the quarter. General Electric comprises approximately 1.1% of Hoey Investments Inc.’s portfolio, making the stock its 11th largest holding. Hoey Investments Inc.’s holdings in General Electric were worth $6,265,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GE. New Age Alpha Advisors LLC increased its stake in General Electric by 133.3% in the 4th quarter. New Age Alpha Advisors LLC now owns 147 shares of the conglomerate’s stock valued at $25,000 after buying an additional 84 shares during the last quarter. Hager Investment Management Services LLC bought a new position in shares of General Electric in the fourth quarter valued at approximately $27,000. Sugar Maple Asset Management LLC purchased a new stake in shares of General Electric during the fourth quarter valued at approximately $29,000. CBIZ Investment Advisory Services LLC bought a new stake in General Electric during the fourth quarter worth $29,000. Finally, Picton Mahoney Asset Management lifted its holdings in General Electric by 62.4% during the fourth quarter. Picton Mahoney Asset Management now owns 177 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 68 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of GE opened at $199.66 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The stock has a market capitalization of $214.29 billion, a price-to-earnings ratio of 33.33, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. General Electric has a 52-week low of $133.99 and a 52-week high of $214.21. The stock’s 50-day simple moving average is $201.52 and its 200 day simple moving average is $186.64.

General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Research analysts forecast that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be given a dividend of $0.36 per share. This is a positive change from General Electric’s previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Monday, March 10th. General Electric’s payout ratio is 24.04%.

Analyst Upgrades and Downgrades

GE has been the subject of several research analyst reports. Wells Fargo & Company raised their target price on General Electric from $225.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. UBS Group increased their price target on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Northcoast Research began coverage on shares of General Electric in a research report on Tuesday, January 7th. They issued a “neutral” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of General Electric in a research report on Wednesday, January 22nd. Finally, Citigroup lifted their price target on shares of General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and an average target price of $211.31.

General Electric Company Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.